New Delhi, Oct 8 (PTI) MUMBAI, Oct 8 (Reuters) – India’s Goods and Services Tax Council, a body of federal and state government officials, made a series of changes to rules on Thursday, limiting punitive powers of tax officials in cases of GST offences.
Businesses across India have complained about stringent tax practices and sought better ease of doing business.
Here are the details of the outcomes from the GST Council meeting, according to a government release.
- The power of arrest is being removed from GST
- The threshold for prosecution for GST offences has been raised to 50 million rupees ($516,635) from 10 million rupees
- The general penalty has been reduced to 10,000 rupees from 25,000 rupees
- A taxpayer who files late, makes an error or delays payment will face recovery, interest and a proportionate penalty, but nothing beyond that
- No GST rates were changed
- GST rate matters will be taken up once a year, at a meeting called for the purpose
($1 = 96.7800 Indian rupees)
